Investment Strategy

The Fund seeks to track the performance of the FTSE U.K. Equity Income Index (the “Index”). The Index consists of common stocks of companies listed on the London Stock Exchange’s main market, that are expected to pay dividends that generally are higher than average. The Fund employs a “passive management” or indexing investment strategy designed to replicate the performance of the Index by investing in all of the component securities of the Index, holding each security in approximately the same proportion as its weighting in the Index.